The company announced that it received orders of $ 29 million in the first quarter of 2022, most of the orders from the US, 95% are for tactical radars for short-range air defense
Rada Electronic Industries, which develops and manufactures software-based tactical radars for the maneuvering force, reports that it received new orders totaling over $ 29 million in the first quarter of 2022. The new orders received represent an increase of more than 22% compared to the corresponding quarter of 2021.
Over 95% of all orders received are for Rada’s software-based tactical radars for use in active defense systems (APS), unmanned aerial vehicles, short-range air defense (SHORAD) and spot defense solutions for strategic bases and facilities. 80% of orders received from the market American, and the rest other global marketers.
Dov Sela, CEO of Rada A message: “We ended 2021 with a book-to-bill ratio slightly higher than 1, a ratio that was lower than we had. Failure to transfer the budget in the US and continued budgeting based on the previous year, which lasted almost 6 months and ended at 11 In March this year, were the main causes of the relative decline in new orders in the US during this period and also affected our revenues in 2021. However, starting from the end of this situation we are experiencing renewed momentum in accepting new orders in the US, which is our main market. The delays in orders and revenues caused by the non-transfer of the budget will be compensated during the rest of 2022. In light of the positive momentum, and alongside the highlighted needs for radars from our product to enable air defense and active defense solutions as reflected in the current and ongoing war in Ukraine, we $ 140 million in 2022. “